Chief financial officer Jonathan Halkyard say the company has worked very hard on its application for the retender.<\/p>\n\n\n\n\n\n\n\n
Macau.- Applications have been opened for Macau’s casino licence retender<\/a> and now the seven applicants can only wait, but MGM has highlighted the importance of securing a licence.<\/p>\n\n\n\n At Deutsche Bank\u2019s 30th Annual Leveraged Finance Conference, MGM Resorts International chief financial officer Jonathan Halkyard said: “There is no greater priority for our MGM China management right now, and for MGM Resorts as a majority shareholder, than seeing this through to a successful conclusion.”<\/p>\n\n\n\n He added: “We submitted that a week ago. We had oral presentations this past weekend, which I\u2019m told went quite well from our perspective. We understand that this process is going to continue for the next three months and that the decisions will be made by the end of the year. That\u2019s the timeline that we\u2019re working on.\u201d<\/p>\n\n\n\n The results of the public tender for new 10-year gaming concessions will be announced by the end of the year. No surprises are expected, with all six current licence holders expecting to gain new licences, but there is one curve ball: an application from Genting-linked GMM.<\/p>\n\n\n\n Halkyard also referred to MGM’s planned\u00a0integrated resort in Osaka<\/a>, Japan, saying that company was optimistic that it would proceed and build a fantastic property. MGM Resorts International is part of a consortium with ORIX that was\u00a0selected as Osaka\u2019s IR partner<\/a>\u00a0for its bid to host an IR.\u00a0<\/p>\n\n\n\n The Osaka IR project is set to include three hotel products providing approximately 2,500 rooms<\/strong>, a MICE facility measuring 68,000 square meters, a 3,500-seat theatre, as well as various Japanese cultural experiences and retail facilities. It will also employ about 15,000 people.<\/p>\n","protected":false},"excerpt":{"rendered":" Chief financial officer Jonathan Halkyard say the company has worked very hard on its application for the retender.<\/p>\n","protected":false},"author":176,"featured_media":17390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM Resorts International's CFO, Jonathan Halkyard, emphasizes the critical importance of securing a new 10-year gaming concession in Macau, with the company confident in its retender application and oral presentations. The Macau retender process is expected to conclude by year-end, with a potential new entrant, Genting-linked GMM, adding a competitive dynamic. Concurrently, MGM remains optimistic about its integrated resort development in Osaka, Japan.","focusai_entities":"Jonathan Halkyard, MGM Resorts International, MGM China, Genting-linked GMM, ORIX, Deutsche Bank","focusai_location":"Macau, Osaka, Japan","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Retender Impact","query":"What specific changes in the new Macau gaming concession terms, beyond the 10-year duration, are most critical for incumbent operators like MGM China to maintain profitability and market share?"},{"label":"Osaka IR Financials","query":"Given the significant capital expenditure for the Osaka IR, what are the projected ROI timelines and key financial metrics MGM and ORIX are targeting to ensure shareholder value creation?"}],"footnotes":""},"categories":[157,16338,158],"tags":[16615],"class_list":["post-33687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-mgm-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=33687"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33687\/revisions"}],"predecessor-version":[{"id":33698,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33687\/revisions\/33698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17390"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}